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Monday, 04 February, 2019, 12 : 30 PM [IST]

Process of stake sale of Air India to not start before June

As per a TOI report by Surojit Gupta Sidhartha, the government will accelerate the process of strategic disinvestment in 2019-20, but the process for stake sale in Air India is unlikely to start before June, a top official said.

Asked about the plan for the sale of loss-making Air India, which was aborted due to a lack of interest, Atanu Chakraborty, Secretary Department of Investment and Public Asset Management (DIPAM), said, “Even if I want to do it, I cannot. Earliest it can see the expression of interest is June 1.” He added that the fourth quarter accounts of the company have to be finalised before putting it on the block and suggested that the government was open to completely exit the airline. Earlier, the plan was to sell a 74% stake in the cash-guzzling national carrier, which many saw as a problem. (Source: TOI)

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